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Blackberry Meets With Shareholders At Annual Meeting, 1 Day Before Earnings Release

The Canadian Press, 22 Jun, 2016 11:06 AM

WATERLOO, Ont. — BlackBerry is holding its annual general meeting in Waterloo, Ont., this morning, with top executives likely to face questions on the future of its hardware business.

The one-time smartphone leader, which reports its fiscal 2017 first quarter results on Thursday, has been struggling in recent years and its first Android-powered phone, the Priv, has so far failed to boost sales.

The company's software and services operations, on the other hand, have performed better, with revenue in the category jumping 106 per cent last quarter compared with the same quarter the previous year.

Meanwhile, analysts are expecting the company to post another loss in its latest quarter, which ended May 31.

Sixteen analysts surveyed by Thomson Reuters estimated on average that BlackBerry, which reports in U.S. currency, will likely report a loss of US$27 million or seven U.S. cents a share for the quarter.

That comes on top of a US$238-million net loss in its fourth quarter, mostly due to restructuring and acquisition costs.

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